Bitcoin Bullish: HODLers Buying At Rate Of 194,500 BTC/Month

Bitcoinist
Bitcoinist

30 Jun 2023 3:00 PM

On-chain data shows the Bitcoin HODLers have continued to accumulate recently as they expand their holdings at a rate of 194,500 BTC per month....

  • Bitcoin HODLers have been accumulating BTC at a rate of 194,500 per month.
  • The illiquid supply of BTC, held by entities with little to no history of spending their coins, has been increasing.
  • The long-term holder (LTH) supply metric, which tracks investors who purchased their coins more than 155 days ago, can lag behind.
  • The illiquid supply metric provides an idea of the buying or selling behavior of HODLers.
  • The Bitcoin illiquid supply change has recently surged to highly positive values, indicating that HODLers' holdings are expanding.
  • HODLers had been distributing in February-March, coinciding with a decline in BTC price.
  • HODLers have ramped up their purchasing recently, nearing cyclical highs seen before the January rally.
  • HODLers are currently buying at a rate of 194,500 BTC per month.
  • Bitcoin is currently trading around $30,700, up 2% in the last week.

The sentiment of the article is generally positive, highlighting the continued accumulation of BTC by HODLers and the positive sign it represents for the Bitcoin rally.

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You May Ask

What is the rate at which Bitcoin HODLers are accumulating BTC?What is the illiquid supply of BTC and how is it measured?How does the long-term holder supply metric track HODLers?What is the recent trend in the Bitcoin illiquid supply change metric?What is the current price of Bitcoin and how has it performed in the last week?

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